Guangdong: largest toy manufacture and export base

According to the latest statistics released by Guangdong Toy Association, the toy industry in Guangdong has bucked the trend with the amount of export 17.34 billion USD and the year-on-year growth of 47.7 percent.

According to the latest statistics released by Guangdong Toy Association, the toy industry in Guangdong has bucked the trend with the amount of export 17.34 billion USD and the year-on-year growth of 47.7 percent. Now Guangdong has become the largest toy manufacture and export base in the world, Nanfang Daily reported.

Li Mingzhuo, the director of Guangdong Toy Association, briefed that the total amount of China’s toy export reached 26.336 billion USD in 2014, with the year-on-year growth of 41.37 percent. While in Guangdong, the amount of toy export is 65.85% of that in the whole country. Guangdong has become the largest toy manufacture and export base, with the yearly export amount more than 50% of the world market.

Guangdong’s hot toy industry benefits from lots of enterprises from home and aboard that are enthusiastic about market expanding. A survey from the Federation of Hong Kong Industries shows that about half of Hong Kong’s toy manufacturers began the domestic business in mainland, while 70% of the other half planned to start in 5 years.

At the same time, stable development of Guangdong’s toy industry was a key factor in export increasing. Although many shoes and clothes factories have moved to the Southeast Asian countries and districts because of low labor costs, toy manufacture factories still preferred to stay in China, since the industrial chain of toy in China has developed maturely. It’s generally believed that China’s mainland market may become the largest toy market in the world in next 10 years.

In the first half of 2014, the export in Guangdong fell sharply, bringing great pressure to toy manufacturers. However, they focused on industrial transformation and upgrading and brought in innovative products to stimulate consumers, boosting the toy industry prosperous again.